Signals: Update based on EOD July 3, 2008.

For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.

Monday, July 7, 2008

Update based on EOD July 3, 2008.

YI: -5
Trying to bottom out: AA, ALEX, and CY
Extremely oversold: AKNS and the S&P-500.
Standard oversold: EWJ, RIO, CSIQ, MDC, SPWR, TSU, and the VXO
Moderately oversold: FCX, TOT, PCU, and the XOI index.
Trying to hold some rising trend line support: FCX and LOW
Trying to hold falling trend line support: PHI and WFR
Attempting to hold the 28 DMA here: ASA
Attempting to break above the 28 DMA here: JNJ
Moderately overbought now: XSLV
Anything posted here may be off base.

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